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IRS – Right To Privacy

The Right to Privacy: Taxpayer Bill of Rights #7 The IRS is committed to protecting the privacy rights of America’s taxpayers. In fact, the right to privacy is one of ten rights the Taxpayer Bill of Rights gives all taxpayers. Taxpayers have the right to expect that any IRS inquiry, audit, or enforcement action will comply with

WASHINGTON – The Internal Revenue Service today announced it will begin to ramp down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close the program on Sept. 28, 2018. By alerting taxpayers now, the IRS intends that any U.S. taxpayers with undisclosed foreign financial assets have time to use the OVDP before the program closes.

IRS Taxpayer Right of Appeal

The Right to Appeal an IRS Decision in an Independent Forum — Taxpayer Bill of Rights #5 Taxpayers have the right to appeal an IRS decision in an independent forum. This is one of ten basic rights — known collectively as the Taxpayer Bill of Rights — that all taxpayers have when dealing with the

US Expats – Have you filed your 2014 US Tax Return IRS Refunds worth $1.1 billion waiting to be claimed by those who have not filed 2014 federal income tax returns Claim yours now before you are unable to do so – June 15 is the deadline for US Citizens Living Abroad WASHINGTON ―Unclaimed federal

Taxpayers Should Report Name Changes Before Filing Taxes

When a taxpayer changes their name, that change can affect their taxes. All the names on a taxpayer’s tax return must match Social Security Administration records. A name mismatch can delay a tax refund. Here’s what a taxpayer should do if anyone listed on their tax return changed their name: Reporting Taxpayer’s Name Change. Taxpayers

5132 US citizens renounced in 2017

US Citizens – Considering Renouncing? 2017 saw a drop in the numbers of US. citizens renouncing citizenship. The total for 2017 was 5,130 compared with 5,410 in 2016. We advocate caution when making this huge decision. Please contact US Global Tax to discuss the tax implications of both retaining citizenship and renouncing.

IRS Exemptions – 5 key points

Five Things to Remember About Exemptions and Dependents for Tax Year 2017 Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an exemption for each of their dependents. Each exemption

Earned Income Credit for Military Personnel

What Members of Military Should Know about the Earned Income Tax Credit The IRS reminds members of the military and veterans that they may qualify for the earned income tax credit. This credit benefits certain people who work and have earned income that’s less than $53,930. A tax credit usually means more money in the